Fitch Ratings assigns JSC Thermal Power Plants international rating “BB-”; Outlook stable

The US rating agency Fitch Ratings, a member of the Big Three World Group, assessed the international indicative rating of JSC Thermal Power Plants with a “stable” outlook at the level of “BB-” and equated it to the sovereign rating of Uzbekistan.

This rating positions JSC Thermal Power Plants in the global investment markets as an enterprise with a clear and precise business strategy, a transparent financial position and a strong corporate governance system.

“The “BB-” level, that is, “stable”, means that credit risks may exist, but the company is able to fulfill its financial obligations to investors and creditors,” says Azimjon Akhmadzhanov, chief accountant of JSC Thermal Power Plants.

Work in this direction was started by JSC Thermal Power Plants in 2021, as a result of the transformational work carried out in the Company, as well as efforts for financial recovery, the corresponding rating of the international rating agency "Fitch Rating" was received in January this year.

It should be noted that during the process of rating assignment, the international rating agency deeply studied and analyzed JSC Thermal Power Plants not only in terms of financial and economic indicators but also in terms of the status of the business strategy, the stability of the financial model, the corporate governance system and other areas.

In addition, the attractiveness of the Company for investments and management potential, as well as the results of ongoing systemic reforms to control the credit burden, were important factors in achieving this positive result.

For reference: Fitch Ratings Inc. is an American credit rating agency and is one of the "Big Three credit rating agencies". It specializes in providing independent and long-term credit ratings, clarifications and information for the global credit markets.

Press Service of JSC Thermal Power Plants